The invisible hand is closely related to each of the following, except
A. supply and demand.
B. the price mechanism.
C. competition.
D. fairness or equity.
D. fairness or equity.
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Refer to Scenario 10.3. The marginal cost of red herrings is given as: MC = 0.6Q. What is the profit-maximizing level of output?
A) 0 B) 25 C) 50 D) 60 E) 125
Suppose the interest rate is 7 percent. Consider four payment options: Option A: $500 today. Option B: $550 one year from today. Option C: $575 two years from today. Option D: $600 three years from today. Which of the payments has the lowest present value today?
a. Option A b. Option B c. Option C d. Option D
In the basic aggregate expenditures model, a decrease in autonomous expenditure
A. increases equilibrium output. B. reduces equilibrium output. C. reduces potential output. D. increases potential output.
In order to get his bachelor's degree, Timothy gave up an offer for a full time job as a bartender. Therefore, Timothy incurred an opportunity cost.
Answer the following statement true (T) or false (F)